48 minute read
COLUMNIST ARTICLES
ACCOUNTANT
By Warren Strybosch
Waiting
Waiting
At Find Accountant, we provide SMSF tax advice. Our senior accountant is also an award-winning financial advisor. If you require SMSF advice or are considering whether or not to wind up your SMSF, then speak to Warren Strybosch at Find Accountant Pty Ltd.
Warren Strybosch
You can call them on 1300 88 38 30 or email info@findaccountant.com.au www.findaccountant.com.au
Special Tax Return Offer
$99 Returns - PAYG Only
We have made it cheaper and easier for you to get your returns completed & you can do it all from the comfort of your own home.
Here are the steps involved:
1. Email to returns@findaccountant.com.au requesting your PAYG return to be completed. Provide us with your full name, D.O.B and address.
2. A Tax engagement letter will be emailed to you for signing via your mobile (no printing or scanning required).
3. You will be then sent a tax checklist to complete online. Takes less than 5 minutes.
4. We will then require you to upload your documents to our secure portal.
5. Once we have received all your documentation, we will complete the return.
6. We will email you the completed return with our invoices. Once you sign the return and pay the invoice we will lodge the return on your behalf.
1300 88 38 30
Mastering Purposeful Conversation To Create Chage
RESILIENCE COACH
By Sally Higoe
You’re a leader. The results you’re after aren’t quite there.
You observe the results. You observe your team.
...But do you observe yourself?
...And then, what do you do with all these observations?
Typically, the reason to observe is to identify if/where improvements need to be made, if a job is being done well and where more focus is required. The outcome is often that a change needs to be made - somewhere. After identification, comes conversation. I’m talking about effective conversations here. Ones that produce a result. And before any conversation in the workplace takes place, it does begin with observation. We observe to define the purpose.
Conversations with no or little purpose go round in circles, loop, back track, meander and get off course. These types of conversations are distractions, far from productive and often time wasters, particularly for a high-performing team that is keen to produce results and stay on track.
In business, your conversations need to be energised and with purpose if you expect a positive result from them. The first part to improving your communication is to begin observing yourself. Observing is easy... if you know; • what to look for and • what to do with it ... (and then • how to communicate it)
Internally, take note of your language – verbal and body. Be aware of how YOU communicate. - Is your language empowering or disempowering? ... o Do you say “I can’t”? Could you say instead “I can” or “I’ll try” or add “yet”? o Do you use a calm, even tone? o Are your words ‘moving forward’ (focusing on future and change rather than what can’t be changed) o Do you speak with certainty and passion for what you’re saying? o Are you ‘active’ whilst talking? Facing person, eye contact, upright, attentive o How are you holding your head, arms, legs? Are you tense?
It’s up to you, the leader, to lead the way with the use of your words and to be visually ‘open’ in your stance. When you notice you’re communicating in a disempowering way, flip it, so that it empowers.
Externally- that’s your observations of others- look out for signs to see if they are uncomfortable.
o Are they twitching, fidgeting, turning away? o Did they sigh or take a sharp quick breath? o Are they ridiculously still and not saying a word?
These tell-tale signs will bring awareness to how your conversation is going and the energy levels of the other person/ people... And these signs typically tell you that the conversation is going poorly.
Many leaders when they observe these ‘distant’ signs will begin to feel uneasy. Don’t. Stand your ground and flip these results right now. (Continually bringing awareness and adjustment to this in the future). You need to breathe and start again.
The only value of communication is the response that it gets. This means that if you aren’t getting the outcome that you desire from your conversation, including if you feel you’re not being understood, then you need to change how you communicate. That’s all. Make a conscious change.
The best way to do this is to ask questions; • First ask yourself... “Why are we talking about this?”, “What outcomes are we looking for?” ... bring yourself back on track.
• Then direct your focus back to the conversation... o If with a team, identify what you observed, then ask “What outcomes are we looking for with this conversation?” o If 1 on 1, identify what you observed, and open up the conversation by asking “How is this moving us towards the outcome we want?”
(HINT- If you have done the work in the beginning, and you are each aligned to the Company vision and values, you will both have the same desired outcome. If your outcome is distinctly different to each other... you need to go back and lay the foundation.)
By asking these questions about outcome, you stop irrelevant chat and get people settled and focused fast. It builds trust in you as a leader, and it instils accountability and responsibility whilst encouraging solution focused thinking in your team.
Purpose first --- What are the outcomes we’re after
In short, with this question, you establish an agenda. This approach can be very valuable in current times due to many businesses experiencing; -short staff issues, -high turnover and -rotating rosters.
In these situations, too many leaders will put process ahead of purpose. That means they put focus on getting the job done, just doing the job, rather than doing the job that would achieve the businesses’ higher purpose.
If you have to reallocate tasks or roles, here’s how to think about and tackle that;
The process – get help The purpose – get complex job done.
Set your team member up for success in this new task you’re asking them to take on, by encouraging thinking towards the higher purpose and asking the right questions. When you do this right, you’ll see the willingness of the individual to not only seek out ‘how’ but likely to also improve the current task/role!
Here’s some questions you could ask• What outcomes are we looking to achieve? • How does this fit with your overall job of XYZ? • What will be outstanding about dealing with this? • What new opportunities may exist after? • What must be achieved, how will you know you’re tracking well? • How does this chat link with the business/team vision? • How does what we are discussing move us towards our goals • Are we focused on purpose or process? • How will we know when we achieve the outcome?
What other great questions could you ask of your team that would-
o assist them to take on jobs usually outside their role, and o to empower them to potentially grow into a greater role/leader
For more discussion and tips around empowering your staff to embrace and excel in change, email me and let’s chat – sally@team-resilience.com.au
Sally Higoe
Team/Leadership Coach Team Resilience Method
0490388017 sally@team-resilience.com.au
Click here to register
Are You Buying A Property? – The Conveyancing Process
LAWYERS
By John Van Beveren
Just like when you buy a car, conveyancing is the legal process that transfers the property title from the seller to the buyer.
Once you have explored the housing market, attended countless inspections and found the right property to buy, there are a few things to look out for when you are handed the contract by the Real Estate Agent. Is important that you check the contract carefully to ensure that everything about the property is understood and that there will be no legal surprises after you have purchased it.
Things to look out for in the Contract when buying
You may come across different types of contracts of sales – each property has their own unique features. Make sure you read and fully understand all terms, conditions and fine print in the document before you sign. Ask that any terms or conditions you verbally agree to are put into writing in the contract or agreement, so you know exactly what you are committing to before you sign. If something is unclear, seek independent advice before signing. You should keep a copy of all documents you have signed as a record.
Finance Approval – If you are obtaining a loan to purchase a property, it is important to ensure you make the contract conditional based on obtaining finance approval by a certain date. This means that if something happens and you cannot obtain the right finance, you are able to opt-out of the contract without any consequences.
Building and Pest Report – It is also a good idea to subject the contract to obtaining a Building and Pest Report, especially if it is an established property. This also allows you to end the contract when you obtain a registered building practitioner or architect and they find any major building defects, or if a pest control operator finds any major infestation. Settlement Date – This is the date where the magic happens! Settlement day is when the transfer takes place, documents are lodged and registered with the Land Registry, the ownership is transferred from the vendor to purchaser, and the funds will be disturbed between all parties.
What is a Section 32 Statement?
A vendor statement (also known as a “Section 32 Statement”) is a crucial part of buying and selling a home. It provides the buyer full disclosure of the property and includes the following:
• Title Search and Plan – A title search includes who are the current proprietors of the property, the property identification information such as Volume, Folio and Plan number and if there is currently a mortgage or caveat registered on the property. The plan of the land is also included to make it clearer which property you are buying into.
• Lease agreements (if applicable)
- If there is a current lease in place on the property, the property may be sold subject to a tenancy agreement, and at settlement the purchaser may not be entitled to vacant possession of the property. • Easements and Covenants – this informs buyers of any restrictions on how you can use the property.
There may be an agreement with an organisation permitting certain use of the land. For example, if there are any sewer mains vested in a Water
Authority, you are not permitted to construct anything within 1 metre of the easement without obtaining the
Water Authority’s approval
• Financial matters to be disclosed
- the amount of any rates, taxes, charges or other outgoings affecting the land for which the purchaser will become responsible for. • Building Permits – the vendors are liable to disclose any building permit on work issued in the preceding 7 years.
• Planning Property Report, including
matters relating to land use – zoning such as general residentials zone, the relevant government area and council. • Owners Corporation - an owners corporation is responsible for managing the common property. If you buy into an owners corporation, you will be purchasing not only the individual property, but also ownership of, and the right to use, the common property as set out in the plan of subdivision. This common property may include driveways, stairs, paths, passages, lifts, lobbies, common garden areas and other facilities. The buyer is also responsible to take over any levies and fees associated with the Owners
Corporation.
It is important for the Vendor Statement to be accurate and complete. They are actually a complex document that if not prepared correctly, can leave loop holes open that buyers may be able to use to avoid contracts. If it contains incorrect information, this can allow a buyer to withdraw from the sale of the property and take legal action.
The contract states you are responsible to ensure when you do your inspections before settlement that:
• the Property is identical to what is described in the contract; • the Property complies with all laws and statutory requirements; • the condition and quality of the land, and the suitability for any improvements on the land; and • if there is any presence of any contaminants in the ground water or presence of asbestos in the improvements made on the land.
What is the difference between a Property Lawyer vs Conveyancer?
Both property lawyers and conveyancers are able to assist in general conveyancing transactions such as buying or selling a home and transferring names on the Certificate of Title.
A property lawyer may be a more suitable choice as they are qualified to complete a number of things that cannot be legally completed by conveyancers.
On top of completing the conveyancing process, lawyers can also provide legal advice to their clients, review contracts, include any necessary Special Conditions to protect your interest, and provide loan and trust advice. Lawyers have an extensive knowledge of the law and may be more suitable when handling complex or risky property transactions.
Take the stress out of Buying a Home
If you are buying a property, we highly recommend taking advantage of pre-contract advice before signing a contract.
Contracts of Sale are lengthy legal documents with many pages of provisions. It’s important to appreciate their implications, and a lawyer will help provide an easy-to-follow explanation of what your obligations and rights so you can make a confident decision buying your property.
If you are selling a property, we also assist from start of the matter and prepare and create the Contract of Sale and Vendor Statement, all the way to settlement and finalizing the transfer.
Do you want to talk to a lawyer about property matters? Call JohnVan Beveren on 0429 312 986 for a free 15 minute call.
John Van Beveren
LAWYER Van Beveren Lawyers 0487 044 478 www.vanbeveren.com.au
GEELONG’S PREMIER NEWLAW FIRM WITH A PERSONAL APPROACH. WE PROVIDE HIGH QUALITY, TIMELY & TAILORED LEGAL SOLUTIONS WITH PRICE CERTAINTY AUSTRALIA WIDE.
OUR SERVICES CONTACT US
CONVEYANCING & LEASES
COMMERCIAL & CORPORATE
FAMILY LAW
WILLS & ESTATE PLANNING PROBATE
CRIMINAL LAW
ADVOCACY & MEDIATION
IMMIGRATION & VISAS Suite 3, 50-58 Moorabool St Suite 3, 50-58 Moorabool St Geelong VIC Australia 3220 Geelong VIC Australia 3220 Available 24 hours
0429 312 986
john@vanbeveren.com.au
Van Beveren Lawyers based in Geelong provide high-quality, timely and tailored legal solutions with price certainty Australia-wide. We focus on quality services, building relationships and forging long-term partnerships. Together, we invest in your ongoing success
Exterior Home Colour Trends for 2022
PAINTING & DECORATING
By Steve Dahllof
During the Covid lockdown, have you wandered outside and noticed that your outside walls could do with some brightening up? With the warmer spring weather and the days becoming lighter, homeowners often use spring as the time to repaint the exterior of their homes.
A fresh coat of paint can reinvigorate the whole house. You could breathe new life into your older-style dwelling by refreshing its normal colour or go wild and or make a bold statement.
Each year, paint companies and colour experts reveal their next-year picks for the shade that best encapsulates the current period. Their choices for colour of the year often draw on trends in pop culture, fashion, technology and design from around the world.
In the last two years, the Covid pandemic has certainly affected the way we live and has changed many aspects of decor. Hunkered down and isolated, people have begun their homes as a refuge, a place that celebrates family, and that actually got more traffic due to breadwinners and kids being home all the time. The trend seems to be the need to change homes to create warm and safe spaces in an uncertain world.
Colours for 2022
Colours evoke different sensations. This year, online searches for green paint colours have more than doubled since 2020, indicating that homeowners are seeking colours that are calming and soothing.
Houzz magazine reports that the trend for grey tones that has exerted its influence over exteriors and interiors over the past few years will be replaced by eyecatching pastels and saturated bright shades. Greys will be replaced with soft greens, whites and some bolder colours such as oranges, deep greens and blues. This colour palette draws its inspiration from Australian native flora, such as the greens and soft pinks in our native eucalypts and is calming and restful. The pastel palette works beautifully on weatherboard and rendered facades and coastal homes and it pairs beautifully with pale grey or white stone. Contrast this with darker greens or earthy pinks for windows, doors and fencing.
Modern architecturally designed homes can look good in cooler tones for a more contemporary appearance. If you have a Victorian or Edwardian home, you might like to choose earthy clay tones paired with brown-black on gutters, window frames and fascia boards, with a dusky pink on the doors. This looks stunning on brick or rendered walls painted white. For those who prefer a natural palette, earth-based colours – think beiges, greys and stone – can highlight existing features such as bricks, stone, paving, roofs, gutters, fencing frames and doors. You will need to balance colours carefully. Shades like warm whites, greys and greige (grey-beige) blend well with existing materials of a warmer hue; add splashes of contrasting colour to highlight other features such as doors and frames.
Greys and blues are also on trend for exteriors. The greys range from deep grey-greens to those that are soft and silvery. Blues show no sign of losing their popularity for seaside homes, but the tone this year is for a mellow grey that softens the common nautical look.
What colour goes where?
A colour card from the hardware store can’t really give you a sense of what colours are appropriate to your home. You need to see the colours in all conditions – light and dark, wet and fine. Get a sample pot and apply a test patch of at least 300 mm where you want to paint. Leave it there for four to five days and check it through the day to see it from sunrise to midday to late afternoon.
It’s also a good idea to notice what plants you have in your garden, and even photograph them through the year. Imagine all the time and effort you put in to painting your house to discover that that beautiful shrub in your garden makes your newly painted frontage look muddy, not mellow.
Another tip is to look at the colour of your roof, driveway and pavers. Your choice of paint will need to combine well with such a large expanse of existing colour.
Whatever you choose, it will be there for years, so choose well!
For all painting advice, contact Dahllof Painting Services at sjd67@bigpond.net. au. We will be happy to answer your painting inquiries.
Steve Dahllof
PAINTING AND DECORATING Dahllof Painting services 0407 365 372
What is the Right Cover?
GENERAL INSURANCE
By Nicole Nelson
There’s no doubt that with all the different types of products and providers on the market, general insurance can seem like a bit of a maze. It’s common for people to worry about getting the right level of cover, having enough cover, or paying too much in premiums. However, avoiding it all together is not going to protect your valuable assets or help you quickly replace your possessions in the event of a break-in.
Insurance is based on the idea of transferring risk. If something unexpected happens to your home, contents, car or boat, the right insurance policy will ensure that you are compensated if you suffer a loss. Some people can get caught out with their policies when their insurance needs change and they forget to update them.
Getting the right cover If you don’t regularly re-assess your insurance requirements, there is a risk of having your assets underinsured. You may inadvertently leave something off your policy, or worse, find out after a theft, that your current policy doesn’t provide the level of cover you were expecting.
It’s recommended that you review the contents of your home every 12 months. This involves making a list of any significant purchases and then contacting your broker to add these items to your policy. Reading the fine print and understanding the different types of cover are critical. For example, some home insurance policies only cover defined events such as loss or damage from storm or fire. Other policies only cover accidental loss or damage and normally have some type of exclusions.
You should also check to see whether your policy will cover you for any damage from smoke, floods, earthquakes or malicious damage. Some policies do not cover properties while they’re being renovated or if they’re hit by something such as a car. Dig into the detail of your policy to check if all your valuables including items like jewellery or artwork are included. If they’re not, you may need to take out a separate policy.
It’s also a good idea to assess how much it would cost to rebuild your home based on today’s costs. While it may have cost $150,000 to build your home 20 years ago, there’s no doubt it would cost more to rebuild it today. Remember to consider expenses such as cleaning up the site, paying an architect, the actual building work and alternative accommodation while your home is being rebuilt. Don’t forget to reassess your policy after any renovation work.
Tips for saving on your premiums
• Hold multiple policies with the same insurer: If you have two or more general insurance policies with the same company you may be entitled to a discount on your premiums. • Increase your excess: Some insurance companies will let you increase your excess in return for lower premiums.
• Tighten your security: Installing extra security in your home may reduce your premium.
• Look for age discounts: Some insurers offer discounts for certain age groups such as 55-year-olds and over.
This article provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.
Nicole Nelson
GENERAL INSURANCE Belmont Insurance Centre
419387012
Get Your Gear On - The Bare Video Basics Series
VIDEO CONSULTANT
By Zoë Wood
Welcome to the first of a 3-part series of articles outlining the basics of video production. Let’s start with what you physically need to create a video for your website, social media, or just to send privately to a friend or family member.
Video has come a long way from large bulky cameras only operated by professionals. You can now simply pull out a smartphone and be recording in the best quality without having to think that hard. Even professionals, such as myself, use mobile phone footage on expensive marketing campaigns. They are that good!
The first step is to work through the process of your message. What you are going to be saying in a video? Your message and intention are more important than any flashy camera or microphone set up. Since this is the area where people get stuck mentally, I thought it would be good to address it first.
You ultimately have 3 starter options when creating video: The Economical Option: This includes using your pre-existing smartphone. Newer phones tend to have larger cameras for capturing video but most phones from the past five years should have the camera quality needed. Your lens should be clean from dust and be positioned at eye level by positioning it on a bookshelf, a pile of books or anything stable within your home. Filming should take place in a quiet room filled with soft furnishings, i.e. couches, cushions, or blankets. These can act as cost-effective sound treating to remove echoes. Finally, the filming location should have access to a form of indirect sunlight. This will help illuminate your face and anything you happen to be filming.
The Budget Option: Much like the previous option, this includes using your pre-existing smartphone. Ideally, one from the last five years for the camera quality. Your lens should be clean from dust and be positioned at eye level. You can achieve this by using a tripod that you can get from any local camera supply store. While you’re shopping at places like JB HIFI and other audiovisual stores, you can also pick up an external microphone for your phone. Look for equipment labeled ‘mobile shotgun mic’ or ‘lavalier microphone’. Brands such as RODE tend to be reputable. You could also get a medium-sized ring-light, a light in the shape of a ring, to get that perfect even glowing skin.
The Semi-Pro Option: Building upon what we’ve collected from the previous two options. From here, we would be upgrading to a digital single-lens reflex (DSLR) camera. We would change out the above microphone intended for mobile use into one for use in a DSLR. Again, RODE tends to be a reputable brand. Lastly, we would purchase 3 more additional lights to be able to control the light in order to get the best shot.
These options prove that you can get started with little to no gear at all when starting videos. You have the power to do this. Your fans, your customers, and your employees will thank you for doing so.
If you liked this article, you’ll enjoy the rest of the series; “Chop, Change, and Edit Your Video,” and “Upload Yourself Online.” These will be made available over the coming months (November and December 2021), only in the Find Geelong magazine. See our upcoming videos on breaking down your video creation process, by searching Video Confidence Coach on YouTube, Instagram, Facebook, LinkedIn, and Twitter.
Zoë Wood
VIDEO CONSULTANT
WEB DEVELOPER
By Adam Sims Waiting
Adam Sims
WEB DEVELOPER aWebpage
6 Novated Leasing Myths Busted
SALARY PACKAGING SERVICES
By Dan Nicholls
Believe us when we say novated leasing is a good thing, but there is a lot of misinformation out there on how they work. Here, we bust some of the most common myths about novated leasing and explore the reasons why they are so beneficial.
1. Leases are expensive
It’s quite the opposite. Novated leasing saves you money in many ways. If you finance a new car through a novated lease arrangement, you won’t pay GST. This can save you thousands of dollars upfront. Better yet, your novated lease can be structured so all your car running costs are bundled into one pay deduction. This includes costs such as fuel, maintenance and even insurance. The deduction amounts are calculated using a combination of your pre-tax and after-tax income, so you are saving on tax and will pay less tax on your takehome income. BUSTED!
2. It’s only available on new cars
You can choose a used car and even if you have a loan arrangement on your current car, you can have a novated lease. By switching, you’ll save more on your repayments and every day running costs. Your salary packaging provider will work with your employer and financier to structure your lease so it is the most beneficial for your situation. There is a limit on the age of the car you can have on a novated lease which is usually no more than 10 years old at the end of the lease. After that length of time you are most likely to want to change your car anyway. BUSTED! set up through your employer, or it could simply be your own personal use car. Either way, novated lease cars have the potential to save you and your employer a whole range of car-related expenses. Also, you get the car you want that suits your needs, not your employer’s. BUSTED!
3. I still have to pay running costs on top
Unfortunately, no-one gets out of paying running costs for a car, but a novated lease can ensure you pay a lot less for them. Because your running costs such as registration, fuel, servicing, maintenance, insurance, roadside assistance and even carwashing can be included in your deduction amount, you’ll save a bundle. Also, by having already had these costs deducted, you won’t put off having your car serviced or replacing the tyres, so your car will be safer for you and your family. You also won’t be paying lots of different parties to maintain and insure your car - this saves you time and hassle as well. BUSTED!
4. I won’t own the car
The car is yours as long as you make the repayments, just as a house deed is yours as long as you keep up mortgage repayments. Some people get confused by the term ‘lease’. The leasing terminology simply refers to the financial arrangement between yourself, your employer and the financier. At the end of your novated lease, you’ll have a range of options to finalise it. You can pay the residual amount and own the car outright, refinance and extend the lease, sell the car, pay the residual amount and start a new lease or trade the car in. Your salary packaging provider can help you decide what’s best for you. BUSTED!
6. It’s all too complicated
Novated leases can be complex in their calculations and initial setup, but let your salary packaging provider and employer worry about this. Novated leasing is a benefit your employer extends to you as a reward for your hard work. If you decide you want a novated lease on your new wheels or your existing car, the paperwork will be done for you and will just require your agreement. Your repayment amount will also be automated to come directly from your income every pay. BUSTED!
Curious? Let’s Chat
At The Salary Packaging People, we’ve negotiated thousands of novated lease arrangements across a range of cars. Contact us or call 03 5229 4200.
Visit our website to review this article or follow us on social media.
5. I must use the car for business purposes
Not true. While there used to be mandates on car leases that required you to drive a certain number of business-related kilometres, these stipulations are long gone. Your novated lease car may be used as part of a business arrangement
Dan Nicholls
SALARY PACKAGING SERVICES Salary Packaging People
0400 479 998 dan@salarypackagingpeople.com.au
Emotional Fitness – How to Create Your Very Own Emotional FITBIT
LIFE COACH & COUNSELLOR
By Lou Lugsdin
We don’t often pay as much attention to emotional fitness as we do to physical fitness.
The thing is “when we hear of strength we immediately think of lifting weights or something to do with physical strength, it seems as if more focus is given to physical fitness and to a lesser degree on one’s emotional fitness. Emotional fitness must receive more attention because without it we can become emotionally, mentally and physically paralysed, unable to achieve the kind of success we deserve!” Tony Robbins.
Our emotions and thoughts influence our behaviour and actions. “Supressing emotions is just like holding in gas. At first you think you can get away it, until your insides get all cramped and eventually you explode! The moral of the story – Let it all out, it’s what it’s designed for!” Matt Lavars, TCI.
If we supress our emotions, it is likely that they will come out at an inappropriate time! We need to learn how to acknowledge our emotions and then release them. Release allows us to control them, not the opposite.
3 Core Elements of Emotional Fitness
• Focus • Physiology • Language 1.Focus – what you focus on, you will get. Our focus – what we see, look for, think about, and tell ourselves determines our results. We need to focus on what we want, not on what we don’t want.
2.Physiology – Our physiology tells a story about us. The question is, is it the story you want people to be making up right now? Our physiology is made up of our body language, posture, stance, and expressions. How we stand, sit, and hold our bodies tells a story. If we are hunched over with our shoulders slumped and inevitably are looking down, our body is sending a message to our brain saying we may be feeling the heavier and more depressed emotions like; sadness, anxiety, anger, frustration, overwhelm and so on. Our physiological state has a direct impact on our psychological state.
3.Language – The words we use also impact our experiences. We need to listen out for words like can’t, won’t, haven’t. These words are pressure words and prevent possibility! What we tell ourselves becomes our truth, so we need to choose our words carefully.
A Formula That Helps – An Activity That’s Helpful
• E + R = O • Event + Response = Outcome • Activity – Think of an event that frustrated you – that caused you to feel emotional or to react
E = Event – What happened? Write down what happened in 1 sentence. R = Response – How did you respond? What meaning did you give to the event? What story did you give to the event? Write down how you responded in 1 sentence.
O = Outcome – The result. What was the result for you? How did you feel as a result of your response to the event?
Now re-visit the event.
Event – Write down what happened in 1 sentence. Response – Think of a different way you could have responded to the event. What else could you have told yourself? Choose a new response. Write it down. Outcome – What would be the new result considering your new/alternate response? How might you respond? How might you feel this time?
Lou Lugsdin
MyY Life Coach and Counsellor 0408370757 info@my-y.com.au www.my-y.com.au
We are meaning making machines. Events happen in our lives. It’s helpful to be able to separate events from the story we give the event. When we get stuck in the story, we need to pause and go over it step by step and brainstorm alternate responses. Each response/story will provide a different outcome and emotional experience
Win / Win for LONGEVITY
Negotiating Your Wins
BUSINESS COACH
By Deb Fribbins
We spend our life negotiating in so many different ways. In business, with our families and friends, and in our pursuit for happiness in the various organisations or groups with which we belong. No matter the type of negotiation that you’re working through, the results that you’re looking for at all times, will be more beneficial if there is a win for both sides.
There are five stages of negotiation to achieve the results that you want. The conversation you have may be crucial to your business or the person you are dealing with. Your business negotiations should be planned out thoroughly before you start the meeting. There are many factors to take into consideration The financial cost is often the only factor we consider. This can lead to failure if you do not consider physical, emotional and environmental considerations.
In all negotiations there are two possible outcomes A. There is no win for you and the negotiations fail completely with no favourable outcome. B. You win on this occasion, but you don’t get the opportunity to go back for a second negotiation in the future. You burn your bridges for ongoing opportunities. 1. DEFINE what is that you “need” out of the negotiation. What are the minimum requirements that you’re prepared to accept as a win, what is the end result that is most beneficial to you and your business.? What is your utopia? What impact will the negotiation have on other areas in your business?
2. DETERMINE the parameters under which you are working. Know your marketplace, know the value of the negotiation that you were trying to achieve, what are the market forces? Know the costs physically, mentally, and financially to the person or company you are negotiating with? Know the party with whom you will be negotiating. What are their limitations? Are you speaking to the right person? What are other benefits you may negotiate that do not cost either party, such as exclusivity, or pre-launch window of opportunity, or Gift With Purchase (GWP), or delivery, or service as applicable to your business.
3. DEVISE a plan for the conversation, under which you’re able to negotiate. What are the minimum negotiating points that give you a complete win? What are you prepared to relinquish to achieve a workable result? What are the implications to your business and equally importantly your ongoing relationship? 4. DELIVER on those plans as you devised them, with thorough planning you will know what you are able to negotiate your way to a beneficial result.
5. DISSECT the planning stages with a mentor or coworker before you go into the meeting. Listen to their suggestions and possible adaptions you may need to make? Be fully prepared before you start the conversation.
Going through these 5 steps will enable you to be fully prepared for a favourable outcome. Maintaining good customer relations is just as crucial to the result as the negotiating the right price for customer relations and longevity of supply.
Deb Fribbins
FINANCE BROKER
By Allan Houliston Waiting
Allan Houliston
Aisling Financial Finance Broker
Problems Your Garage Door May Be Suffering In Spring
GARAGE DOORS
By Chantal Djuric
When you hear of the term ‘spring cleaning’, you probably think of cleaning out cupboards, sweeping and dusting and possibly a few outdoor renovations.
One of your largest assets could also do with a spring clean – your garage door. Here are 8 things to watch and listen out for.
1 Odd sounds
If you hear your garage door making grating or scraping sounds, this could be an indication of a problem with the automatic opening mechanism. A regularly maintained, well tuned door moves smoothly and quietly. The springs, pulleys and cables on both sides of the door should be symmetrical.
2 Dirty tracks
Check if the tracks on both sides are clear of rubbish and rust. Use a plumb level to measure that they are level.
3 Loose brackets
A typical garage door opens and closes hundreds of times a year, even during Covid lockdowns. This up-and-down action can loosen the door and its brackets and fasteners.
4 Wear and tear on rollers and cables Rollers along the edges of the door should be inspected at least twice a year for signs of chipping, cracking or wearing. Cables and pulleys should have no fraying, broken strands or any other indication of wear or damage.
5 Sticking door
All moving parts, such as pulleys, rollers and hinges, can seize up gradually over time. They need to be lubricated at least twice a year.
6 Door opener needs replacing often
If your garage door in not properly balanced, this puts undue strain on the door opening mechanism, which reduces its lifespan. To test if your door is balanced correctly, pull the release handle on the automatic opener and lift the door manually till it is open halfway. If it doesn’t remain still but slides down, it is unbalanced or the springs need replacing.
7 Auto-reverse not working
As a safety measure, all automatic garage door openers have an autoreverse function designed to stop and re-open it if an object in the path of the door is detected or it hits something while closing. You can test if this is working by placing a piece of wood (without nails!) under the door and close it. The door should stop and reverse when it senses the wood. Older garage door openers that lack this basic feature should be replaced immediately.
8 Worn weather strip
The rubber strip beneath the door helps prevent water, leaves, dust and dirt from entering your garage while keeping the temperature within regulated. Check its condition because, being made of rubber, it will wear out. One clue is to stand inside your garage (making sure you have an adequate exit plan!), bend down and see if light is coming through from underneath the door. This means there are gaps and that the rubber weatherstrip needs replacing.
How do I fix my garage door, and how often?
If you’re a weekend backyard hero, you may find it tempting to save a few dollars and attempt to address these problems on your own. But some of the problems
are downright dangerous to try fixing on your own; the others may look easy to fix but are not. Each garage door make and model has its own specifications that require precision, the right tools and the right parts. Though garage doors look hefty, they have delicate mechanisms that require minute finetuning procedures to have them running at their optimal best.
If you make a mistake when trying to solve your garage door problems yourself, you could end up with a nasty Christmas bill by damaging the mechanism or, worse, possibly end up in hospital. Adjusting anything to do with a garage door at all is really best left to a qualified garage door technician.
We recommend you book a regular three-month service for your garage door, whether it’s a domestic or a commercial one. That way, you won’t even have to think about any of the above! You can sit back, relax and enjoy the spring, knowing that all the things your garage door needs will have been attended to by a trained specialist professional.
For 24/7 garage door servicing, give Cruzin Garage Doors a call on 0427 894 603 or email us at sales@ cruzingaragedoors.com.au.
FINANCIAL PLANNER
By Mark Kruger
Waiting
This article provides general information only. It does not consider your objectives, financial situation or needs. You should consider seeking independent legal, financial, taxation or other advice to check how this information relates to your unique circumstances. MoneyRocket is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this article.
Mark Kruger
FINANCIAL PLANNER Money Rocket 0429 446 229
Acronyms – Part 2
BOOKKEEPER
By Mary-Clare Switz
Here is Part 2 of our Acronyms list! Last month’s and this month’s list are by no means exhaustive but are a good representation of commonly used acronyms in the business and financial services sector.
DJPR – Department of Jobs, Precincts and Regions
Any business who has received a COVID business grant will have noticed this acronym on their bank statement
PPSR – Personal Property Securities Register
This is a public noticeboard of security interests in personal property. The noticeboard is managed by the Registrar of Personal Property Securities. People and business can search the PPSR to find out if there is a security interest registered on personal property. For example, when you buy a car on finance the finance company will register a security interest on the car until the finance is paid in full.
DGR – Deductible Gift Recipients
This is an endorsement for a not for profit entity that allows them to issue receipts for donations that can be used as tax deductions. The endorsement categories include health, education, fire & emergency services plus more. It is important to note that generally sporting associations are not eligible due to the rules for DGR.
TPAR – Taxable Payment Annual Report
This is a report a business will send to the ATO once per year reporting what subcontractors they paid in the financial year and how much GST was included (or not). This report is mandatory for business providing building & construction services, cleaning services, courier services, road freight services, IT services & security, investigation or surveillance services.
TPB – Tax Practitioners Board
The TPB is a national body responsible for the registration and regulation of tax agents, BAS Agents and tax (financial) advisors. Any accountant, bookkeeper or financial advisor that offers services that are regulated by the TPB (for example: income tax returns, BAS returns, advising on tax consequences) for a fee must be registered with the TPB. To check to see if your accountant, bookkeeper or financial advisor is registered with the TPB go to https://www.tpb.gov.au/ registrations_search.
STP – Single Touch Payroll
STP is a relatively new(ish) reporting system that reports payroll to the ATO each time a payroll is processed. This system began in July 2018 for employers with 20 or more employees. From July 2019 all other employers came into the system (with extensions for closely held employees).
Every single payroll that is processed (called a “pay event”) must be STP reported either the day before payroll is paid or on the day it is paid.
Each time you report you are sending the Year to Date Gross wages, PAYG withholding superannuation accrual. This information is fed to the employees’ myGov accounts and they will be able to see their updated Year to Date Gross and super accrual with several days (or
less) of the STP filing. At the end of the year, the business reconciles their payroll and submits a STP finalisation report to the ATO. Once this is done, employees will see their income from that business as “Tax Ready” and the income will prefill when the Tax Agent is completing their income tax return.
Most software providers, such as Xero, QBO, KeyPay, etc., offer STP compliant payroll.
STP2 – Single Touch Payroll 2
The ATO has been working on expanding what information STP will report. As of 1 January ,2022, STP 2 will come into effect BUT employers who starting reporting STP2 by 1 March 2022 will be considered as having met the 1 January 2022 deadline. Software providers are currently working on the update required to be compliant with STP2. There may need to be adjustments to the payroll setup … we are waiting for further details
OTE – Ordinary Time Earnings
This is the amount employers pay their employees for ordinary hours of work. It can include commissions, shift loadings (i.e. the extra paid for working on a Saturday). Overtime is not considered OTE. This is important to note as the superannuation guarantee is calculated on OTE and not overtime.
USI – Either Unique Superannuation Identifier or Unique Student Identifier
Unique Superannuation Identifier is a unique number allocated to a Superannuation fund. It can be very important to known the USI of a super fund when enter an new employee into payroll as some Superannuation fund companies can have multiple funds.
Unique Student Identifier is a number issued to a VET, TAFE or university student that is theirs for life.
HELP, HECS, VSL, FS, SSL, TSL – Higher Education Loan Program, Higher Education Contribution Scheme, VET Student Loan, Financial Supplement, Student Start-Up Loan, Trade Support Loan FEE-HELP
FEE-HELP is a loan program to assist eligible fee paying students for nongovernment places. The loan is paid directly to the institution on your behalf and a HELP loan debt is recorded with the ATO
STSL – Study and Training Support Loans
This is the grab bag term for the two sections above. The term is used on payroll reports to separate the additional tax withholding on an employee’s pay slip as well as payroll reports.
All of these are different means by with students can borrow money from the Commonwealth to support them whilst they are studying. New employees are asked to report on their Tax File Number Declaration form if they have one of these. All of them are repaid once the student is earning over the repayment threshold ($47,014 for 2021-22 income year) even if they are still studying. It is important to note that if someone with one of these debts has several jobs, each of which does not go over the threshold, the extra tax deduction from their wages will not be triggered, even if all of the wages combined is over the threshold. An employee can choose to voluntarily increase their withholding to ensure they have enough deducted.
Mary-Clare Switz
Bookkeeper BISCUIT BUSINESS SERVICES
0448 887286 mc@biscuitbooks.com.au
MARY-CLEAR SWITZ
Bookkeeper
Biscuit Business Services
Helping your business keep track of your bickies!
OUR SERVICES
BAS Services
Bookkeeping & Payroll Services
Business Services CONTACT
0422 800 012
mc@biscuitbooks.com.au
7A 9A-11 Leather Street, Breakwater VIC 3219
Biscuit Business Services provides professional, confidential and comprehensive bookkeeping, payroll, BAS and administrative solutions to small to medium businesses. We specialise in working with ‘in the cloud’ bookkeeping and document solutions to effectively keep your business up to date and on track. We believe in a strong team approach when working with our clients and their Tax Agents.
Selecting Colours For Your Logo
EMBROIDERY SPECIALIST
By Kerry Kaspi
Color can make or break a logo, your signature is something that you want everyone to see, like and capture their interest, needing to know more.
Choose colors that are suitable to the image you are trying to present.
Corporate colors were once boring mainly consisting of maroon, navy, white and grey/black.
These colors along with red and yellow make up 70% of business logos.
Although the business logo has come along way.
When the decision is yours, how about using the shade of Navy as below? Maybe team it with a bright gold, still professional and eye catching.
On Navy garments you could use the grey or the gold, brighten these hues to make an impact.
The light blue and white are a very popular choice amongst many business’, again, brighten the tone to make it work. Keep in mind when your logo is for Hi Viz wear, lets say orange, change the text to a navy that trims your polos or work wear.
If your using lime or yellow, change to the trim on your polos.
Many will do this and is common practice, and really makes the uniform work, perhaps one of the biggest tips.
With over 1000 tones and colours we have the ability to make your logo look the best it can be.
On Navy or most colours, use these shades of Teal into the golds.
They look professional with many colours and designs.
Kerry Kaspi
Branded Apparel & Marketing Geelong Industrial Monogramming 0412 670 310 Kerry@gim.net.au | www.gim.net.au
Millennials and money: what does the future hold?
Money and Life
(Financial Planning Association of Australia)
With the rising cost of housing, an aging population, climate change and now a pandemic falling squarely on the shoulders of Australia’s millennials, how is this generation faring financially?
The first millennials (born between 1981 and 1996) are turning 40 this year. Still, despite more than twenty years in the workforce, it seems their financial wellbeing isn’t guaranteed.
A Commonwealth Bank study has found that almost two thirds (61 per cent) of millennials (also known as ‘Gen Y’) don’t have a regular savings plan, while 1 in 10 are still living pay cheque to pay cheque. A third (31 per cent) say they don’t feel comfortable talking about money.
Yet, millennials haven’t let go of the great Australian dream. More than half (58 per cent) are holding out hope they’ll be able to buy a house in the next five years. Currently only 28 per cent of millennials own their own home, according to the study.
Structural challenges
After a decade of slow economic growth, little to no wage growth and spiralling housing costs in our major cities, it seems millennials are feeling the pinch.
While older households have done well from rising house prices and superannuation, research by the Grattan Institute shows that the wealth of millennial households has barely moved since 2004.
Contrary to popular belief, the report’s authors say there’s no evidence that millennial spending habits are to blame for stagnating wealth.
No issue with soy lattes and avocado brunches then it seems.
A COVID-19 legacy?
Adding to the financial worries, more than a third of millennials (37 per cent) say they’ve been affected financially by the COVID-19 pandemic, the highest of any generation.
And, while the pandemic has further stifled wage growth, it’s also is forcing many to ‘shelter in place’, choosing job certainty over career advancement. It’s unclear what the longer term impact of this will be, but redundancies and lack of career progression in some industries is likely to shape our workforce for years to come.
Resilience in the face of hardship
Despite the cards being (economically) stacked against them, it seems Gen Y are a resilient bunch. There’s evidence to suggest they’re more financially savvy than previous generations.
A study by Afterpay[1] found that more than 80 per cent of millennials budget, compared with only two-thirds of older generations. They’re also 30 per cent more likely to save regularly than their parents.
UBank agrees, saying that Aussie millennials take an active interest in managing their own finances, and are the most likely to budget.
“Despite 45% of the population admitting their finances have been negatively impacted in the last six months [by COVID-19], we’re seeing millennials emerge as being quite resilient,” said UBank executive, Philippa Watson.
“They’re taking the opportunity to implement budgeting and saving strategies to keep their financial goals, such as buying a home, on track, with many putting away half their salary each month,” Watson said.
A transfer of wealth
While the wealth of millennials pales in comparison to older generations, that could be about to change. According to the experts, Australia is on the verge of its largest ever handover of wealth, with up to $3.5 trillion in assets set to pass from baby boomers to millennials over the next 20 years.
Boomers are said to be the wealthiest generation in history, having lived through some of the most prosperous years on record. How much of that wealth they’ll pass down to their heirs is anyone’s guess though. Boomers will spend close to thirty years in retirement on average, so they’re just as likely to spend their ‘hard earned cash’ rather than gifting it to their heirs.
Financial wellbeing top of mind
With the millennial generation now hitting their thirties and forties, major life events like home ownership, marriage, children and saving for retirement are taking centre stage. Good money management and financial planning are becoming increasingly important, especially given the structural, economic and environmental challenges they face.
It’s a positive sign then that 1 in 2 millennials say they want to have more open discussions about money, with more than half of those (54 per cent) keen to know how to get ahead financially, according to the Commonwealth Bank research.
For a generation that came of age during the global financial crisis, a global pandemic just over a decade later might feel doubly unfair. But it seems millennials are nothing if not adaptable, and resilient. Getting the right financial planning advice now will help millennials navigate the challenges that come with this stage of life and ensure their financial wellbeing far into the future.
